BI Asset Management Fondsmaeglerselskab A S Sells 16,763 Shares of PulteGroup, Inc. $PHM

Key Points

• BI Asset Management Fondsmaeglerselskab A S reduced its PulteGroup stake by 68.6% in the fourth quarter, selling 16,763 shares and leaving it with 7,676 shares worth about $900,000.
• Insider selling was also reported, with COO Matthew William Koart and Director Lila Snyder both trimming their PulteGroup holdings in May.
• PulteGroup reported mixed quarterly results, missing EPS estimates by a penny, while the company also authorized a $1.5 billion share buyback and declared a quarterly dividend of $0.26 per share.

BI Asset Management Fondsmaeglerselskab A S cut its holdings in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 68.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,676 shares of the construction company's stock after selling 16,763 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in PulteGroup were worth $900,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Rachor Investment Advisory Services LLC bought a new position in PulteGroup in the fourth quarter valued at approximately $31,000. Lloyd Advisory Services LLC. bought a new position in PulteGroup in the fourth quarter valued at approximately $33,000. High Point Wealth Management LLC acquired a new stake in PulteGroup in the fourth quarter valued at approximately $38,000. Beacon Financial Strategies CORP acquired a new stake in PulteGroup in the fourth quarter valued at approximately $40,000. Finally, Elyxium Wealth LLC acquired a new stake in PulteGroup in the fourth quarter valued at approximately $41,000. 89.90% of the stock is owned by institutional investors.

Insider Buying and Selling at PulteGroup

In related news, COO Matthew William Koart sold 7,457 shares of the business's stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $120.00, for a total value of $894,840.00. Following the transaction, the chief operating officer owned 28,100 shares in the company, valued at $3,372,000. The trade was a 20.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lila Snyder sold 3,339 shares of the business's stock in a transaction on Friday, May 8th. The shares were sold at an average price of $117.18, for a total transaction of $391,264.02. Following the completion of the transaction, the director owned 3,540 shares in the company, valued at approximately $414,817.20. The trade was a 48.54% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.75% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Zacks Research upgraded shares of PulteGroup from a "strong sell" rating to a "hold" rating in a research report on Monday, April 13th. Citigroup raised their target price on shares of PulteGroup from $136.00 to $138.00 and gave the company a "neutral" rating in a research report on Friday, April 24th. Evercore raised their target price on shares of PulteGroup from $146.00 to $151.00 and gave the company an "outperform" rating in a research report on Friday, April 24th. Wells Fargo & Company lifted their price target on shares of PulteGroup from $132.00 to $140.00 and gave the stock an "overweight" rating in a report on Friday, April 24th. Finally, Bank of America cut their price target on shares of PulteGroup from $145.00 to $140.00 and set a "buy" rating on the stock in a report on Monday, April 20th. Ten equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat, PulteGroup presently has an average rating of "Moderate Buy" and an average target price of $140.71.

PulteGroup Price Performance

Shares of NYSE:PHM opened at $118.74 on Thursday. The firm has a market cap of $22.62 billion, a PE ratio of 11.48, a price-to-earnings-growth ratio of 1.56 and a beta of 1.20. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.94 and a current ratio of 0.94. PulteGroup, Inc. has a 52 week low of $98.27 and a 52 week high of $144.49. The firm's fifty day moving average is $119.36 and its 200-day moving average is $124.16.

PulteGroup (NYSE:PHM - Get Free Report) last released its earnings results on Thursday, April 23rd. The construction company reported $1.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.80 by ($0.01). The firm had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.40 billion. PulteGroup had a net margin of 12.14% and a return on equity of 16.41%. PulteGroup's quarterly revenue was down 12.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.57 EPS. Sell-side analysts predict that PulteGroup, Inc. will post 10 earnings per share for the current year.

PulteGroup declared that its Board of Directors has authorized a stock repurchase plan on Thursday, April 23rd that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 6.1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its shares are undervalued.

PulteGroup Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Tuesday, June 16th will be issued a $0.26 dividend. The ex-dividend date is Tuesday, June 16th. This represents a $1.04 annualized dividend and a yield of 0.9%. PulteGroup's payout ratio is presently 10.06%.

PulteGroup Profile

PulteGroup, Inc NYSE: PHM is a U.S.-based residential homebuilder that designs, constructs and sells single-family homes and develops master-planned communities. The company operates multiple national and regional brands that target different buyer segments, including first-time buyers, move-up buyers and active-adult customers. Its operations encompass land acquisition and development, home design and construction, community amenities and ongoing customer service and warranty programs.

PulteGroup markets homes under several well-known brands, such as Pulte Homes, Centex and Del Webb, among others, offering a range of product types from entry-level detached homes to larger, higher-end residences and age-restricted active-adult communities.

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